3 Dos & Don’ts of Setting Up an Online Business!

“I want to have my online business” – is a great thought to have. It is a sign that you have an entrepreneurial psyche. But talk to someone who already has an established online business and they will give you a whole list of things that they wish would not have done. I believe that setting up an online business is not a piece of cake. There are a lot of aspects you need to consider. After all, the decisions that you make initially will have a huge impact on your business at later stages.

So, before you think, “Big deal! I just need to pay $12 for a domain name, choose a free website template, and get going”; consider these dos and don’ts. 

Let us start with the Dos first.

1. Have a business plan

Remember the adage “Look before you leap”? Well, it kind of applies here. Before setting up an online business, you need to understand that a business plan is the blueprint for your business.

2. Know Your Audience

First, you need to define your target audience and conduct a survey to find out how you can meet the needs of your customers.

3. Accept Criticism

Let us say someone advises you to hire a dedicated Magento developer and get your website developed in Magento. With Magento, you get to have all the solutions that an e-shop would need. So, listen to the feedbacks as it will help you understand your customers, offer a better product, and provide better customer services.

Now, let us talk about the don’ts:

1. Do Not Procrastinate the Launch

Practice how to create a product, generate a buzz, set targets, and launch it on time. Approach an ecommerce web development company to help you if you want. Only then, you will start generating revenues.

2. Do Not Have Unrealistic Expectations

There is no such thing as an overnight success. If you think you had misconceptions about certain aspects, rework on your original plans.

3. Do Not Ape Your Competitors

During the initial years after my business launch if someone asked me a question like, “Why should we choose you for Magento Ecommerce Website Development?” I used to give generic answers like “’Coz we’re better than our competitors.” But later, I realized that such generic reasons do not work anymore. It is very important to stand out from your competitors and offer them with something unique each time.

Winding up:

One needs to ensure that one indulges into best practices before launching a business. So, conduct R&D about your industry, try to know about your competitors, come up with a fantastic business plan and above all, know what not to do when setting up an online business.

The above-mentioned dos and don’ts are stemming out of my experiences. It does not mean what works for you will work for me.


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This is how Exactly You can Infuse Credibility into Businesses!

Business credibility is the trust you build among customers and with tactical business acumen retain it. You might be thinking that even after building an effective store front with impeccable and quality products, there is a need to infuse credibility in your store. But, more than a pre-requisite it is the aspect making your business reliable and trustworthy. Building business credibility is crucial for small scale businesses.

Don’t ever miss the opportunities that come across for businesses to make it a big HIT among customers. Because, they are the ones the helps you build your brand. Even the finance investors and stakeholders play an important role in making the business image credible.

Traits that Add Credibility to your Business

Win Trust

Credibility is all about winning trust of every individual connected to it. Accepting and fulfilling the expectations is crucial for building and retaining trust factor in corporate business solution. This can be done by incorporating an enticing store front that satisfies customer needs, make them feel the value they hold for your business and let them reveal how and why they are satisfied with your business. Their positive approach will boost your brand image helping you get more customers.

Retain Confidence

It’s the confidence that helps your business to achieve desired ROI. If you are a newcomer, you will be packed with confidence to achieve success at any cost. Though you might not have sufficient experience to make the strategies work anyhow, but it takes the confidence that helps you conquer the world. Any task accomplished in the right way can do wonders. Confidence can build business credibility whereas overconfidence can even ruin it.

Treat Customers Well

Customers, being the most significant aspect of your business, they should be treated really well. Word of Mouth marketing is the most effective trait that has benefited organizations. Interact with your customers and find what they expect. By satisfying their challenging requirements, you can make your brand prominent sustaining in the world competition.

Even if the products or services you serve are not up-to the mark, the way you treat your customers matters more than the product quality. They can share their views and experiences through social media and other means, which can earn you more customers With better feedbacks, your business can avail excellent credibility!

Honest Approach

When the approach you work for is positive, and when the strategic efforts to make the business credible are honest, there would be no barrier for success. Dishonesty can prevent your business from getting success. Let your stakeholders and customers have faith in you and your business. Making fake or false promises can make your business lose its credibility.

Highlighting achievements and revealing accomplishments adds value to your business. Avoid the factors creating negative impact on individuals connected with your brand.

Clear Business Objectives

With an aim to serve across the globe, modern businesses ensure the strategies used to achieve objectives are unbeatable. For instance, you may set the goal that your business would achieve sales limit of ‘X’ number of products by the year ‘Y’. Accomplishing this objective requires several aspects to work like productivity, customer service, core values, manpower etc. Focusing on the efforts required to achieve business objectives helps customers trust your brand.

Be it a startup or a huge enterprise serving since ages, business credibility is the asset for organizations making individuals trust and rely on the businesses. Companies planning for long term stay in global market can get benefits from this marketing trait. Make unbeatable strategies that help you flaunt your business achievements.

Business credibility plays crucial role in boosting the customer satisfaction level by getting remarkable profitability. Flawless reputation is what every business is working for.

Top Challenges at Workplace While Implementing BYOD in Enterprises

Modern executive have started adapting the latest trends and culture to stay ahead in the race of modernization. Thus, organizations are getting new face by infusing the ever changing technology. The term BYOD is expected to revolutionize organizations looking forward to making workplaces highly flexible. Bring Your Own Device (BYOD) is the next generation policies that will definitely hit the company rule book in near future.

What is the Term BYOD?

Bring Your Own Device is the initiative taken to provide flexibility and convenience for work accomplishment. This policy will allow employees to stay connected with company’s system, no matter wherever they are. They might get some integration issues in the initial stage due to software and hardware variants. So, at times data and application adaptation might require high configuration and synchronization too. Empowering employees with improved and refined scalability, this future trend will serve the entire business arena.

As every coin has dual side, BYOD benefits are accompanied with challenges and risks that every enterprise is scared of. Though modern corporate business solutions are implying latest technology, they also need to consider the risks and challenges lying within the ever changing technology needs. Let us have an insight into the miscellaneous factors that need additional consideration.

Challenges in Implementing BYOD

Data Security is Biggest Challenge

Just think that you are working in an organization that has implemented BYOD policy. So, every employee brings his/her devices to work. In this scenario every device used in the company might have different software and their versions. The devices might be infected with various kinds of malicious threats like viruses, worms or Trojan horse. Preventing crucial business data from getting infected is very tough. Thus, data security in the enterprises supporting BYOD is a huge challenge for data management team.

Device Security is another Challenge

This new policy might be highly beneficial, but at the same time there may increase the complaints for lost or misplacing of personal devices used for performing business tasks. According to the a research conducted, more than 45% of the devices registered for BYOD were lost and found from public places. Organizations may lose crucial business data if the BYOD registered devices are found by any strangers.

Avoiding Attackers to Harm Data is Challenging

With the advent of this policy in the enterprises, data attackers may have a wider spectrum of data theft of crucial data. They may even sell it to third party maligning the company’s reputation. Important passwords, account details and other authentic information saved in the BYOD registered devices may be their prime target while hacking the devices. To avoid this situation, enterprises should prohibit the devices from having firewalls or anti-theft software.

Restricting Unauthentic Mobile Apps is Challenging

Employees using their smartphones and tablets may have several apps in their registered devices. The devices may be vulnerable at times as the apps may store crucial device data in their databases. Checking each and every device for malicious app and their functioning is impossible. It may even happen that an app might have received millions of downloads and have been in the list of top rated apps, but unknowingly it may save entire data of the device and send it to its database. This situation will not be less than a nightmare for enterprises. To prevent this scenario, organization implementing BYOD policy should allow only specific apps or software that are safe and disallow the rest.

Do you own an enterprise? Are you thinking to infuse a modernized approach i.e. BYOD in your enterprise? Flexibility and scalability of the business processes might be the main goal, but there might be several challenges too that can keep the company’s profitability at stake. It is advisable to play safe when huge data and security are the major concerns.

Entrepreneur’s Attitude BUILD or RUIN Enterprise

Do you think it’s the business owner who is responsible for success and downfalls? Some might be thinking that not only his/her attitude but other factors too work upon that. I agree, but 90% of the result is due to an entrepreneur's attitude and dedication towards the work. Competitors might be succeeding and your business might be running at a low speed. Why is it happening? Is it because, you are lacking some qualities? Should your attitude be blamed? Is it taking your business to a dead end? Analyze yourself prior to analyzing your system and staff.

Right from the day an idea strikes an entrepreneur's’ mind, the work starts. Briefing the idea, creating strategies and gathering funds is what the initial steps should be. You can only get it right with the right attitude.

Let us see what those crucial factors are that affect the business severely!

Dissatisfaction

Dissatisfied entrepreneurs always tries to achieve great heights in their business. The dissatisfaction in the mind makes them stronger to gear up themselves towards new peaks. It is the attitude that makes their roadmap to success easy and fruitful. But if the dissatisfaction is affected by other factors like the employee behavior, workflow or any other aspect, it might even dismantle the created empire.

Dedication

“Dedication is the key to success”. This is an ancient belief that helps entrepreneurs to build and grow their business. Business owners must know their startup business needs and they must be highly dedicated to accept challenges no matter how difficult it would be. If they are not prepared for the worst case scenario, they cannot prepare themselves to defeat the competitors, which would result in a failure. A thorough analysis of the situation will give them the right envision that will help them formulate an unbeatable business solution.

Confidence

Confidence can make anything possible. It can take an enterprise to new heights. Overconfidence may block the success path. Entrepreneurs seeking success need to make mistakes, learn from the situations and gain experience. This way they could build the confidence to manage the functioning of the enterprise. The crucial decisions taken by the entrepreneurs are not 100% correct every time; it is possible that the result might be unexpected or undesirable. Confidence more than required brings disasters too.

Behavior

Every employee expects a professional yet friendly behavior from his/her boss, trust me, it’s their secret desire! The entrepreneurs need to be very smart to understand the situation and react accordingly. Taking employees’ psychology seriously, a strong and reliable company culture can be created to make the work atmosphere inspiring. If the entrepreneur behavior and attitude is unpleasant, chances are that you might lose valuable customers or your loyal employees might even transit from your enterprise.

Optimism

Optimism refers to being positive. Every entrepreneur, be it an owner of a small startup or a big company, is expected to have optimistic attitude. This will make them better entrepreneurs having thorough business insights. Practicing optimism will help the business owners to take the right decisions once they analyze the situation completely and implement it at the right time span. There might be situation where just a single small mistake would affect the business severely. Thus, an optimistic entrepreneur never differentiate any situation as weak or strong, they believe in making the solution strong that can beat the challenges with best returns.

I hope this article will help millions of entrepreneurs, who are either thinking to venture into the business or the ones who are in search of some guidance to grow their business. To all those, I would like to conclude with the sentence “It’s the attitude that can build and can terminate too!”

How Smart Entrepreneurs Manage Their Underperforming Employees

Not every employee can adjust and perform remarkably well in the company culture. The bitter reality is every huge company has best employees along with the underperforming employees. It takes the management skills of business owners that decide whether to manage underperforming employees as assets or let the company experience a downfall?

Factors like behavior, poor skills etc. are not the managements concern this might be the thinking of many business owners, but will it not affect the business performance? Obviously, it will. Such situations can be managed tactically. Considering their approach, floundered employees can be brought back to work efficiently through the ways mentioned below.

Ways to Manage Underperforming Employees

1.Provide Accurate Feedback

Prior to start criticizing the employee for their poor performance, give them the accurate feedback. Speak to the employee before the situation goes out of control and it affects work quality. It is better to drive their focus to the work by refreshing approach rather than reinforcing for no cause. Planning in the correct direction might save the employees getting poor performance tag.

2.Listen to them

Communication being a 2-way process, leaders should listen to their employees before getting judgmental. Allow them to explain the reasons and their point of view. Find out why the employee has stopped working efficiently as compared to their earlier performance. Is there any other reason, which stops them to flaunt their best skills? Understanding the problem is the key to successfully boosting the performance of employees.

3.Show Care and Concern to your Employees

If the corporate business solution finds an issue affecting several employees, company owners should solve it smartly. If an individual feels, he or she is overburdened with work; this might be felt by other employees too. This situation can be resolved by calling a meeting with heads of the department to discuss the working culture. Ask them to define the areas they need to progress and the strategies that are expected to be implemented. Then you can understand the facts and problems being raised by the employees and find the solution. Make your employees feel valued by solving their issues.

4.Find the Factors that Distract

It is very hard to find what factors are responsible for the change in employees working pattern. Figure out what is causing less performance by getting to the root of the problem. But improper diagnoses can lead to certain issues. Increasing pressure, if the employee is not putting efforts, might not help if the ability is the concern. If he or she is not able to work for the given job profile than pressurizing might the worst scenario. There might be several reasons like co-workers, company rules, difficult tasks, frequent deadlines etc. which would encourage them, not to work. Find such factors to resolve them as soon as possible.

5.Find the Factors that Motivate them

Once you find the factors that distract your employees and you find ways to resolve the situation, its time to find the factors that motivates them to work. Find their long term goals like where they would like to see themselves in next three to five years.

Motivation is the only key that helps employees to retain their work efficiency. This can be done by identifying the people who need performance boost. This technique will even help business owners to find whether the employees are provided with the correct roles and responsibilities.

6.Refresh Performance Goals

Rather than implying your own working methods and strategies in your organization, taking the inputs from your employees like how would they like to achieve targets, learn new skills or how they would like to improve will surely yield mutual beneficial results. Invite and engage your customers in developing methods that would motivate them for better work performance. Also offer them rewards like bonus or increment to keep their spirit of working, high.

7.Follow Up

A good leader is expected to follow up with their employees to avoid any further issues. This can be done once the goals are decided and strategies are made and followed to achieve these goals. Leaders should show interest in their employees work and help them achieve their targets. This will boost their moral and ultimately it would help a companys culture to progress. This behavior of the business owner will make the employees feel important and helps them boost their work efficiency.

8.React if Underperformance Persists

If the employee continues to underperform, the head of the department should notify them about this. Leaders can even inform their employees about the intolerable attitude and behavior. Departmental heads can even take some actions given the company rules and regulations. Such employees may even influence other hard working employees to behave the way they are doing. This kind of employee behavior should not be tolerated and should be tackled as soon as possible.

If you own an enterprise with such employees, the above stated points might help you to manage underperforming employees in a better way.